NYMEX Holdings Inc. (NMX) Shares Rise on Possible Acquisition By CME Group Inc. (CME)
Shares of stock exchange operators mostly rose in midday trading Monday, as CME Group Inc. said it is discussing an acquisition of Nymex Holdings Inc. for about $11 billion.
The proposed deal values shares of Nymex at $119.22 each. The two companies are in an exclusive 30-day negotiating period.
Nymex, which operates the New York Mercantile Exchange, rose $7.37, or 6.9 percent, to $114.53. The stock has traded between $88.26 and $148 during the past year.
The New York Mercantile Exchange specializes in trading of energy and metals contracts, and has already partnered with CME to list some contracts on CME's electronic exchange.
The proposed deal values shares of Nymex at $119.22 each. The two companies are in an exclusive 30-day negotiating period.
Nymex, which operates the New York Mercantile Exchange, rose $7.37, or 6.9 percent, to $114.53. The stock has traded between $88.26 and $148 during the past year.
The New York Mercantile Exchange specializes in trading of energy and metals contracts, and has already partnered with CME to list some contracts on CME's electronic exchange.
Labels: CME, CME Group Inc., NMX, Nymex Holdings Inc.
posted by Stock Administrator @ 12:53 PM
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